Adidas to launch $1 shoe in India

Berlin, Nov 20: German sportswear and equipment giant Adidas will soon launch a shoe that costs one dollar a pair in India, said Herbert Hainer, CEO of the company despite failed attempts to launch a similar venture in Bangladesh.

Talking to Die Welt am Sonntag, Sunday newspaper he said that unlike Bangaldesh where an attempt to lauch similar venture did not succeed, mass production would be possible to supply the growing Indian market.

"The shoe will be sold in villages through a distribution network," Hainer said, adding, "We want the product to be self-funding."

He however did not reveal the plan of when and where it will be launched. Adidas in 2010 had announced their plans to sell one dollar shoe in Bangaldesh but the plans did not work out as intended, said Hainer.

"We sold 5,000 pairs during a test phase but we made only losses," he said. "The shoes cost us three dollars to make and we had to pay USD 3.50 in import duty."

"Our brands and products are resonating with consumers around the world like never before," Hainer has said on November 3 after their a growth of 12 percent instead of 10 percent.